Demand growing at a CAGR of over 4 percent through 2025
BOSTON, Nov. 29, 2016 /PRNewswire/ -- The global squeeze on military budgets is translating into an emphasis on improving capabilities at the system level. Coupled with a relatively limited number of big budget platform programs, this will translate to spending on radar systems continuing to increase. The Strategy Analytics Advanced Defense Systems (ADS) service series of forecasts cover the global military radar market in terms of expenditure as well as system shipments across the land, air, sea and space domains. Strategy Analytics forecasts global spending on radar will reach $19.39 billion in 2025, representing a CAGR of 4.1% over the 2015 to 2025 period.
The Military Radar Market Outlook 2015-2025 report presents the outlook for global military radar in terms of overall expenditure, as well as detailing expected shipments and associated demand for the underpinning semiconductor technologies. The underlying numerical data is available in the Global Radar Market and Technology Forecast: 2015 – 2025 data model. Further detailed numerical data for radar systems across the respective domains is available in the following series of forecasts:
"Technology trends around AESA (active electronically scanned array) architecture, gallium nitride- (GaN) based solid-state components and digital conversion and processing technologies will also add impetus to radar spending globally through both upgrades on existing systems as well as new radar procurements," predicts Asif Anwar, ADS Director at Strategy Analytics. "The associated market for semiconductors and other components will grow to over $3 billion with GaN becoming the primary enabling technology as it grows at a CAGR of 28.0%.
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